Terra Blockchain Has Resumed Block Production
The Terra blockchain has resumed block production. Validators have decided to disable on-chain swaps, and IBC channels are now closed.
Andrew
1:03 13th May, 2022
Markets
On Saturday, TerraUSD fell below $1 as concerns over the Federal Reserve looming interest-rate hikes and removal of pandemic-era stimulus pummeled the broader crypto market and pushed luna down about 10%. It crashes Nearly 100% Overnight.
In a recent tweet of Terra blockchain has resumed the block production:
The Terra blockchain has resumed block production.
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) May 13, 2022
Validators have decided to disable on-chain swaps, and IBC channels are now closed.
Users are encouraged to bridge off-chain assets, such as bETH, to their native chains.
Note: Wormhole bridge is currently unavailable.
